MGC Pharmaceuticals granted licence to import wider range of medicinal cannabis product into Australia

() (OTCMKTS:MGCLF) has been granted an Import Licence by the Australian Office of Drug Control (ODC) which allows it to import any of its Schedule 4 and Schedule 8 medicinal cannabis products into Australia.

The Import Licence follows the recent granting of an Indent Wholesale Licence by the Western Australian Department of Health.

It provides an opportunity for MXC’s Australian operations to directly import Schedule-4 – prescription only medication and Schedule-8 – controlled drugs, medicinal cannabis product into Australia from its European production facility.

Decreases handling fees

The company believes the granting of this licence ‘significantly’ decreases logistics and handling fees and supports its business model of providing high-quality affordable medicinal cannabis products to patients.

This process, which was previously facilitated by Cannvalate and Health House International, also progresses the company towards becoming a vertically integrated bio-pharma company with global operations.

Shares have been as much as 30% higher in early trade to 2.8 cents.

Licence “very significant”

Co-founder and managing director Roby…

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